Market Segments Are Often Defined and Profiled with Reference to a Mix

question 15

True/False

Market segments are often defined and profiled with reference to a mix of variables such as geographic, demographic, psychographic and behavioural.

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Definitions:

Experience Curves

Graphical representations similar to learning curves, but focusing on how costs decline as a company gains experience in production over time.

Learning Curves

Demonstrates the rate of improvement in performing a task as a function of time or experience, emphasizing the decrease in labor time and cost with increased efficiency.

Learning Curve

The graphical representation of how an individual's or organization's performance improves over time with experience.